Russian oil major boosts profits despite sanctions ...News

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Russian oil major boosts profits despite sanctions
Rosneft reports $7 billion in net income through June Russian oil giant Rosneft has increased its net profit by 13% in the first half of 2022 despite Western sanctions. The company’s net income rose to 432 million rubles ($7.22 billion), while debt decreased by 12%, compared to the beginning of the year, strengthening the company’s “financial resilience,” the oil major said in a statement on Thursday. Rosneft like other Russian companies has been affected by Western sanctions. According to the oil major, tight controls helped it deal with a sharp rise in the cost of logistics, rail transport and electricity, which

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